Twin Tree Management LP Has $3.05 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Twin Tree Management LP lowered its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 30.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,353 shares of the financial services provider's stock after selling 42,666 shares during the quarter. Twin Tree Management LP's holdings in Manulife Financial were worth $3,051,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its stake in Manulife Financial by 16.4% in the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider's stock valued at $61,426,000 after acquiring an additional 279,418 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Manulife Financial by 148.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider's stock worth $2,382,000 after purchasing an additional 43,877 shares during the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Manulife Financial during the fourth quarter worth $330,000. AEGON ASSET MANAGEMENT UK Plc increased its holdings in Manulife Financial by 14.9% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider's stock valued at $2,719,000 after purchasing an additional 11,509 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Manulife Financial by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider's stock valued at $55,578,000 after buying an additional 81,799 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.

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Manulife Financial Trading Down 0.3 %

Shares of NYSE MFC traded down $0.09 during mid-day trading on Friday, reaching $30.45. 2,165,880 shares of the company's stock were exchanged, compared to its average volume of 1,953,143. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The firm has a market capitalization of $52.45 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05. The business has a fifty day simple moving average of $30.05 and a 200 day simple moving average of $30.27.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. Equities research analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.06%. Manulife Financial's dividend payout ratio is presently 58.45%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MFC. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada upped their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $45.50.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.